UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
                                   -----------

 [X]     QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE
         ACT OF 1934

                   For the quarterly period ended May 31, 2002

[ ]    TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
         For the transition period from _________________ to _________________

                Commission file number _______________________________________

                            NEW CINEMA PARTNERS INC.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

                 NEVADA                                     87-0772357
   ---------------------------------------         ----------------------------
     (State  or  other  jurisdiction  of           Employer Identification No.)
    incorporation  or  organization)  (IRS


               Suite 404, 357 Bay Street, Toronto, Ontario M5H 2T7
               ---------------------------------------------------
                    (Address of principal executive offices)


                                (416) - 367-8299
                           (Issuer's telephone number)
--------------------------------------------------------------------------------
(Former  name,  former  address and former  fiscal year,  if changed  since last
report)

                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the  registrant  filed all  documents  and reports  required to be
filed by Section l2, 13 or 15(d) of the Exchange Act after the  distribution  of
securities under a plan confirmed by a court. Yes [] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity, as of July 17,2002   31,425,021
                            -------------

<PAGE>

                         PART I -- FINANCIAL INFORMATION

Item 1. Financial Statements.

                            NEW CINEMA PARTNERS INC.
                            ------------------------

                          DEVELOPMENT STAGE ENTERPRISE

                              FINANCIAL STATEMENTS

                 THREE MONTH PERIODS ENDED MAY 31, 2002 AND 2001
                                    UNAUDITED


                                    CONTENTS
                                    --------

Balance Sheet                                                                1

Statement of Deficit Accumulated During Development Stage                    2

Statement of Earnings                                                        3

Notes to Financial Statements                                              4-7



<PAGE>

NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE

Balance Sheet

May 31, 2002

Unaudited

<TABLE>
<CAPTION>
                                                                       (note 3)      (audited)
                                                          May 31,       May 31,       Feb. 28,
                                                            2002          2001           2002
                                                       -----------    -----------    -----------
                                    ASSETS

Current

<S>                                                    <C>            <C>            <C>
    Cash and cash equivalents                          $      --      $       204    $      --
                                                       -----------    -----------    -----------
                                                              --              204           --


Debt Issuance Cost                                            --          467,500           --
Intangible Asset                                           938,200      1,000,000      1,000,000
                                                       -----------    -----------    -----------

                                                       $   938,200    $ 1,467,704    $ 1,000,000
                                                       ===========    ===========    ===========

                                   LIABILITIES

Current

    Bank indebtedness                                  $      --      $      --      $       372
    Accounts payable and accrued charges                    70,940        265,895        144,746
    Accounts payable - related party                        20,000        195,000           --
    Advances from director                                  74,351          6,296         52,643
    Accrued interest                                        28,035         25,035           --
    Convertible note payable                                  --           95,000           --
                                                       -----------    -----------    -----------

                                                           193,326        587,226        197,761

Loan Payable                                               150,000        150,000        150,000
                                                       -----------    -----------    -----------
                                                           343,326        737,226        347,761
                                                       -----------    -----------    -----------

                            SHAREHOLDERS' DEFICIENCY

Capital Stock                                               31,175         24,691         31,175

Paid in Capital                                          3,755,535      3,257,119      3,755,535

Deficit Accumulated during Development Stage            (3,191,836)    (2,551,340)    (3,134,471)

Foreign Currency Translation Adjustment                       --                8           --
                                                       -----------    -----------    -----------

                                                           594,874        730,478        652,239
                                                       -----------    -----------    -----------

                                                       $   938,200    $ 1,467,704    $ 1,000,000
                                                       ===========    ===========    ===========
</TABLE>
                 See Notes to Consolidated Financial Statements

APPROVED ON BEHALF OF THE BOARD

             /s/ Martin Lapedus
              ----------------
                 Martin Lapedus
                 Director                            Director

                                       1
<PAGE>

<TABLE>
<CAPTION>

NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE

Statement of Deficit Accumulated During Development Stage

Three Month Period Ended May 31, 2002

Unaudited

                                                                          (note 3)      (audited)
                                                            May 31,       May 31,        Feb. 28,
                                                             2002           2001           2002
                                                          -----------    -----------    -----------
Deficit Accumulated during Development Stage
<S>                                                       <C>            <C>            <C>
    - beginning of period                                 $(3,134,471)   $(2,449,411)   $(2,449,411)

    Net loss                                                  (57,365)      (101,929)      (685,060)


Deficit Accumulated during Development Stage

     - end of period                                      $(3,191,836)   $(2,551,340)   $(3,134,471)
                                                          ===========    ===========    ===========
</TABLE>
                 See Notes to Consolidated Financial Statements


                                       2
<PAGE>

NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE

Statement of Earnings

Three Month Period Ended May 31, 2002

Unaudited

                                                        (note 3)    (audited)
                                           May 31,       May 31,     Feb. 28,
                                            2002         2001         2002

 Revenue                                  $    --      $    --      $    --
                                          ------------------------------------


Expenses

    Selling, general and administrative   $  57,365    $  59,529    $ 169,457

    Interest and bank charges                  --          4,500       10,203
    Amortization of debt issuance costs        --         37,900         --
                                          ------------------------------------

Loss Before the Undernoted                   57,365      101,929      179,660

    Debt issuance costs written off            --           --       (505,400)
                                          ------------------------------------

Net Loss                                  $ (57,365)   $(101,929)   $ 325,740
                                          ====================================

Basic and diluted net loss per share          (0.02)       (0.01)       (0.02)
                 See Notes to Consolidated Financial Statements

                                       4
<PAGE>

NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE
Notes to Condensed Financial Statement for period ended May 31, 2002

1.    Going Concern Assumption

      The Company has sustained  substantial net cash outflows from  operations.
      To date,  the  Company  has  successfully  raised  funds  through  private
      offerings and private financing to satisfy its working capital shortfall.

      The  Company  requires   additional   funding  to  cover  working  capital
      requirements and debt repayments.  The Company  continues to raise capital
      through private share placings.

      There is uncertainty  associated  with the ability of the Company to raise
      funds as  described  above as the company is  currently  in the process of
      changing its business focus. Accordingly,  these financial statements have
      been prepared using generally accepted accounting principles applicable to
      a going concern.  If the going concern  assumption  were not  appropriate,
      adjustments  would be  necessary  to the  carrying  values of  assets  and
      liabilities, the expenses, and the balance sheet classifications used, and
      such adjustments could be material.

                                       5
<PAGE>
NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE
Notes to Condensed Financial Statement for period ended May 31, 2002

2.    Summary of Significant Accounting Policies

       General

       The  Company,  incorporated  in  Nevada,  has  been a  development  stage
       enterprise  from  its  inception  February  18,  1999.  Accordingly,  the
       financial  statements of the Company are prepared in conformity  with the
       reporting  standards  set by SFAS  No. 7  "Accounting  and  Reporting  by
       Development Stage Enterprises."

       Nature of operations

       The company is  currently  focusing on a new  business  direction  in the
       software development industry and will continue to negotiate the possible
       acquisition of a software development based operation.

       Use of Estimates

       The  preparation of financial  statements,  in conformity  with generally
       accepted accounting principles, requires management to make estimates and
       assumptions  that affect the reported  amounts of assets and  liabilities
       and  disclosure of contingent  assets and  liabilities at the date of the
       financial  statements  and the  reported  amounts of revenue and expenses
       during the  reporting  period.  Actual  results  could  differ from those
       estimates.

       Cash and Cash Equivalents

       The  Company  considers  all highly  liquid  investments  purchased  with
       original maturities of three months or less to be cash equivalents

2.    Summary of Significant Accounting Policies - cont'd

       Fair value of Financial Instruments

       The carrying value of cash and cash  equivalents,  receivables,  accounts
       payable,  loan payable and advances from  shareholders  approximates fair
       value due to the relatively short maturity of these instruments.

       Income Taxes

       Income taxes are provided for based on the liability method of accounting
       pursuant to SFAS No. 109, "Accounting for Income Taxes".  Deferred income
       taxes,  if any,  are recorded to reflect the tax  consequences  on future
       years of differences  between the tax basis of assets and liabilities and
       their financial reporting amounts at each year-end.

       At May 31, 2002, the Company had net carryforward losses of approximately
       $1,763,000.  Because of the current uncertainty of realizing the benefits
       of the tax carryforward,  a valuation allowance equal to the tax benefits
       for deferred taxes have been established. The full realization of the tax
       benefit associated with the carryforward  depends  predominately upon the
       Company's  ability to generate  taxable  income  during the  carryforward
       period.

                                       6
<PAGE>
NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE
Notes to Condensed Financial Statement for period ended May 31, 2002

       Foreign Currency Translation

       The Company translates the foreign currency  financial  statements of its
       Canadian  subsidiary in accordance with the  requirements of SFAS No. 52,
       "Foreign Currency Translation".  Assets and liabilities are translated at
       current  exchange rates,  and related revenue and expenses are translated
       at  average  exchange  rates  in  effect  during  the  period.  Resulting
       translation   adjustments  are  recorded  as  a  separate   component  in
       stockholders'  equity.  Foreign currency transaction gains and losses are
       included in the statement of operations.

       Earnings Per Share

       Basic and diluted  earnings  per share is  computed  pursuant to SFAS No.
       128.  Basic  earnings  per share are computed by dividing net earnings by
       the weighted  average  shares  outstanding  during the reporting  period.
       Diluted  earnings  per share are computed  similar to basic  earnings per
       share except that the weighed average shares outstanding are increased to
       include additional shares from the assumed exercise of stock options,  if
       dilutive.

       Stock-Based Compensation

       The Company has adopted the  intrinsic  value  method of  accounting  for
       stock-based  compensation in accordance with Accounting  Principles Board
       Opinion  ("APB") No. 25,  "Accounting  for Stock Issued to Employees" and
       related  interpretations.  The Company  applies all of the  provisions of
       SFAS No. 123 to equity instruments issued to other than employees.

3.    Comparative Information

      Certain  figures  for the  three  months  ended  May 31,  2002  have  been
      reclassified  to conform  with the current  period's  financial  statement
      presentation.

4.    Capital Stock

      a)    Authorized

      100,000,000 common shares of $0.001 par value

      b)    Changes in issued and outstanding common shares were as follows:

<TABLE>
<CAPTION>

                                                         Number of      Share       Paid in
                                                        common shares  capital      capital
                                                         ----------   ----------   ----------
<S>                                                      <C>          <C>          <C>
Outstanding at March 1, 2001                             24,190,736   $   24,191   $3,212,619


Shares issued for expenses incurred
   during the year                                          500,000          500       44,500

Shares issued in settlement
   of convertible note payable                            1,384,285        1,384       95,516

Shares issued in settlement
    of accounts payable                                   5,100,000        5,100      402,900

Outstanding at February 28, 2002 and

   May 31, 2002                                          31,175,021   $   31,175   $3,755,535
                                                         ----------   ----------   ----------
</TABLE>


                                       7
<PAGE>
NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE
Notes to Condensed Financial Statement for period ended May 31, 2002


            The company issued 500,000 shares of common stock, valued at $45,000
for legal services.

            The  company  issued  1,384,285  shares of common  stock,  valued at
$96,900 in settlement of convertible note payable.

            The  company  issued  5,100,000  shares of common  stock,  valued at
$408,000 in settlement of accounts payable.

      c)     The  company  issued  300,000  shares  to Movie  Partners  Inc.  on
             November 9, 2000.  These  shares were  cancelled by the company but
             have not been  cancelled in the registry as the  certificates  have
             not been returned to the share transfer agent to date.

5.    Subsequent Event

         The company is  progressing  in its efforts to acquire Witnet Co., Ltd.
         ("Witnet").  Witnet is a South Korean  Software  Development and System
         Integration  Company.  The company has entered in to a formal agreement
         which calls for the issuance of 55,000,000  restricted common shares of
         NCPP to be issued under rule 144 as promulgated under the US Securities
         Act of 1933, in exchange for 100% of Witnet.

Witnet has three major business areas of mobile  internet  services  development
technologies.  One of  the  main  products  of the  company  is its  proprietary
Mobiliclick system which allows the control over internet-connected PC's through
Personal Digital Assistants that are connected to the wireless internet.

Item 2. Management's Discussion and Analysis or Plan of Operation.

(a) Plan of Operations

The Company has been a development stage enterprise from its inception  February
18, 1999. As disclosed in Form 8-K reports filed by the Company, the Company has
approved  the  acquisition  of Witnet  Co.  Ltd.,  ("Witnet")  a private  Korean
software  company.  In connection  with the  acquisition of Witnet,  the Company
anticipates  filing a Form 14C  Information  Statement  with the SEC in the near
future. The Form 14C Information Statement will be mailed to all shareholders of
the Company.  The Company is now awaiting the audited  financial  statements  of
Witnet, which are being converted from Korean to US GAAP.

The Company intends to implement the business operations and strategy of Witnet,
as more fully disclosed in recent Form 8-K filings of the Company.

We have not earned any revenues  from the date of inception  through the interim
period ending May 31, 2002.

                                       8
<PAGE>
NEW CINEMA PARTNERS INC.
DEVELOPMENT STAGE ENTERPRISE
Notes to Condensed Financial Statement for period ended May 31, 2002

For the period ended May 31, 2002, the company generated net sales of $ Nil. The
Company's  cost of goods sold for the three  months ended May 31, 2002 was $Nil.
The Company's  gross profit on sales was $Nil for the three months May 31, 2001.
The Company's general and administrative costs aggregated  approximately $57,365
for the  three  months  ended  May 31,  2002,  please  see  notes  to  financial
statements.  These  expenses  represent  carry over  losses  from the  Company's
reorganization, bank charges and the payment of fees to the stock transfer agent
and other expenses necessary for the continuation of the business. This increase
represents  essentially  fees for the time spent doing the  marketing  research,
planning and  reorganization  of the  business  for the proposed  entry into the
shipping industry.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995

Our actual results and actual plan of operations may differ materially from what
is stated  above.  From time to time,  the  Company  will make  written and oral
forward-looking  statements  about  matters that involve risk and  uncertainties
that could cause actual results to differ  materially  from  projected  results.
Important factors that could cause actual results to differ materially  include,
among others:

-        general domestic economic and political conditions;
-        changes  in  laws  and  government   regulations,   including   without
         limitation regulations of the Securities and Exchange Commission;
-        availability and timing of receipt of necessary outside capital; and
-        other risk factors described from time to time in the Company's filings
         with the Securities and Exchange Commission.

Many of these factors are beyond the  Company's  ability to control and predict.
Investors  are  cautioned  not  to  place  undue  reliance  on   forward-looking
statements.  The  Company  disclaims  any  intent or  obligation  to update  its
forward-looking  statements,  whether as a result of receiving new  information,
the occurrence of future events or otherwise.

                          PART II -- OTHER INFORMATION

Item 6. Exhibits and Reports on Form 8-K.
                                ---------
The Company has filed the following Form 8-K current reports:
1.       March 1, 2002: re acquisition agreement re LCTC Enterprises Inc.
2.       June 3, 2002: re acquisition of Witnet Co. Ltd.;
3.       June 12, 2002, and amended June 21, 2002: re change of auditors;
4.       July 11, 2002: re acquisition of Witnet Co. Ltd.

                                       9
<PAGE>

                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

                         NEW CINEMA PARTNERS INC.
                         (Registrant)

Date July 22, 2002    /s/ Martin Lapedus
                      ------------------
                          Martin Lapedus


                                       10